Listen to this Article Now
On Friday, Blackstone Inc (BX.N) announced a $3 billion investment in Invenergy Renewables Holdings Llc, North America’s largest private renewable energy provider.
As investors increasingly scrutinize corporations’ impact on the environment and workers, the world’s largest manager of alternative assets such as private equity and real estate has been working to improve its sustainability credentials.
Invenergy said in a statement that Blackstone’s investment will help it speed its renewables development efforts.
The company’s largest owners are the Canadian pension fund Caisse de dépôt et placement du Québec (CDPQ) and Invenergy management, with Invenergy continuing as managing member.
The investment was made through funds administered by Blackstone Infrastructure Partners, according to Blackstone.